Although the activities of the primary market have paused lately due to the Russia-Ukraine crisis, there is an upcoming IPO by Uma Exports Limited. The estimated fund they plan to raise by this initial public offering is Rs. 60 crores.
To know about it in detail, continue reading!
Closer Insight of Initial Public Offering by Uma Exports Limited
IPO by Uma Exports Limited is to open on 28 March 2022 and will run till 30 March. However, it plans to list on 7 April 2022. The trading and marketing company had filed its draft papers with SEBI (Securities and Exchange Board of India) in September 2021.
Through this offering, the company plans to mop up an amount of Rs. 60 crores. Out of this, Rs. 50 crores will be used for meeting working capital requirements. However, the overall sanctioned limit for the company’s working capital need as of March 2021 was up to Rs. 85 crores.
The total income of the company in the financial year 2021 was around Rs. 752.03 crore, as compared to Rs. 810.31 crores in the previous year. At the same time, net profit for this year amounted to Rs. 12.18 crores while it was Rs. 8.33 crores last year. Moreover, the operating profit for this year is Rs. 21.25 crores which were Rs. 19.75 crores in the previous year. Lastly, the total debt of Uma Exports Limited for the said period is Rs. 42.14 crores.
Know More about the Company
Uma Exports Limited carries out trading and marketing of agricultural commodities and products. It includes spices, sugar, food grains, agricultural feed, pulses and other items. Among spices, they deal with products like cumin seeds, coriander, red chilli, etc. Food grains include rice, wheat, sorghum, corn, tea, etc.
The company also imports black urad dal, lentils, faba beans, and tur dal from Australia, Canada, and Myanmar. In contrast, it exports sugar to UAE, Sri Lanka, and Afghanistan and corn to Bangladesh.
The company is also planning to set up a procurement office in Australia by buying ownership of a subsidiary that allows transportation of commodities to any location directly. As a result, the company will be able to save its freight and import duty costs, as mentioned in the draft paper.
Those waiting for the initial public offering of Uma Exports Limited to open can participate in it from 28 March to 30 March 2022. As per experts, it is a small-sized public offering, so it will most probably come under the T2T category under NSE & BSE. Further details of the IPO are yet to be declared.
Frequently Asked Questions
1. Where is the headquarters of Uma Exports Limited?
Uma Exports Limited is a Kolkata-based company that has its headquarters in Shakespeare Sarani Rd, Park Street Area, Kolkata.
2. What is the breakup of QIB, NII, and retail shares in Uma Exports Limited IPO?
The breakup of shares for QIB, NII, and the retail quota in the IPO offered by Uma Exports Limited stands at 50%, 15% and 35%, respectively.
3. When was Uma Exports Limited incorporated?
The trading and marketing company of agricultural commodities and products was incorporated in 1988.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.